A Core Belief of Modern Macroeconomics Is That in the Long

question 4

Multiple Choice

A core belief of modern macroeconomics is that in the long run:

• A) a change in money growth will affect the composition of output, but not its level.
• B) a change in money growth will affect the level of output, but not its composition.
• C) greater saving will result in greater output.
• D) a change in fiscal policy will not affect the composition of output.
• E) output can deviate permanently from its natural level.

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Old English Common Law

The body of legal principles that originated from the early unwritten laws of England, forming the basis of the common law legal system.

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